What to Demand from Contractors Insurance Provider

It may come as a surprise to many. But the insurance industry isn’t that rigid monolith that it was before. The insurance business in the twenty-first century is actually a dynamic industry with myriads of changes happening across its markets. What this means is that there is stiff competition among insurance companies. The premium charge, for instance, on contractor general liability insurance can vary widely, an opportunity to have the best service at the least possible cost.

For this reason, it is vital to those buying contractor insurance to demand certain things from whoever is selling them coverage. First and foremost in the services that contractors seeking insurance should ask is to have instantaneous quotes from their prospective agents. What can be life-savers are those insurance service providers who can give quotes over the phone. The faster that the contractor gets such quotes, the better it is.

The reason is of course obvious to a competitive contractor drawing up an estimate for a project being bid. The last dollar and cents can count in a bidding process. Contracts can be won or lost with a faulty computation emanating from an estimate for the insurance policy that would cover the contract works. Demanding the fastest possible time on insurance premium quotes is de rigueur for the seasoned contractors.

All but naturally, contractors who are on top of their business would ask insurance service providers to deliver not only the quotes but also the actual certificates of insurance at the fastest time possible. Submitting the complete and proper documentation counts, particularly when bidding for large and complex projects. Just a missing piece of supporting information can spell the loss of a highly lucrative contractor’s deal. There’s no room for such thing as “document to follow” in the highly competitive world of professional contracting. Certainly, a tyro contractor attuned to such practice will be laughed out of the business which always deal with what are actually deliverables.

Fortunately, there is a ready solution for the contractors’ demand of timely insurance quotes and speedy delivery of certificates. The cut-and-dry solution would be to deal only with the service providers who are direct writers of contractor insurance. This approach will cut a lot of time and eliminate apprehension of contractors forever on tenterhooks about insurance quotes and certificates being delivered with dispatch. Contractor insurance quotes can’t be sourced as rapidly from those service wholesalers who are often flat-footed and unable to meet the industry tempo that has gone so upbeat a long time ago.

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